If you thought President Joe Biden would quickly reverse Trump’s controversial trade policy toward China, guess again. U.S. importers aren’t happy.
The U.S. and China have reached a deal that will prevent additional U.S. tariffs on Chinese imports from going into effect on Dec. 15.
Pressure applied as some Democrats remain concerned about labor provisions.
An additional $300 billion in proposed U.S. tariffs against China could result in lower railroad freight volume , but economic uncertainty and competition from trucks appear so far to be bigger threats for rail volumes.
Port of Virginia sees tariffs putting its billion-dollar expansion at risk.
The U.S.-China trade talks throw another curveball at shippers and leave no time to move containers ahead of new tariffs. Market experts see no quick relief at hand, and the weak rates are the set-up for service cuts by the ocean carriers in the coming weeks. As reported in FreightWaves, the Freightos Baltic Index for […]
